"The raison d’etre for meritocracy is clear. The economic advantage that accrues to a person should depend on capabilities and effort rather than family background. Meritocracy allows the most talented to succeed through equality of opportunities and fair competition leading to a more equitable distribution of income and wealth. Meritocracy facilitated social mobility in Singapore, enabling the growth of an expanding middle class. We now agree, however, that the very conditions that contributed to meritocracy can also result in inequality."